Activities of Slovenian crypto-currency firms are encouraged and supported in every possible way, as well as the entire field as a whole. There are many conferences organized in the country that are related to this industry. As part of these events, issues of launching a cryptobusiness in the state, the effectiveness of state-established regulation, and so on are discussed. The importance for entrepreneurs who want to open organizations in this particular niche is such a moment as a crypto license in Slovenia.
Open a cryptocurrency company in Slovenia
An increasing number of organizations are introducing crypto-currencies into their activities, mainly bitcoin. This was the reason why the Slovenian government decided to create a separate legislative framework for crypto-assets. In particular, it was indicated since crypto-currency is a form of virtual funds, it is not considered a monetary asset, and therefore is not subject to taxation in this jurisdiction. Tax must be paid only on the income generated by operations with cryptocurrencies. The rate for it is equal to the income tax rate for the country.
Digital currency may be regarded and received as payments by firms and individuals. In addition, cryptocurrencies may be used as a means of exchanges, respectively, they may be sold, transferred or kept.
Investors are also motivated to obtain cryptolicense in Slovenia by the fact professional labor resources are accessible in state at a lower cost many EU countries offer. Local specialists are also ready to cooperate with foreign entrepreneurs and offer them their assistance.
Registration of cryptobusiness in Slovenia
For launching a crypto-company in Slovenia or set up crypto exchanger in Slovenia, an entrepreneur needs to complete a number of the following steps:
- choose the type and direction of activity that the company will carry out, according to the classification in force there. Particularly, a cryptofirm has access to crypto-currency conversion services, the opening and maintenance of virtual wallets, cryptographic tokens and the implementation of commercial consultations related to issues related to crypto-currencies;
- establishment of a firm for goals of fulfilling purposes of taxation as an enterprise or an individual.
If an entrepreneur is approved as an individual, then he/she will be required to report all profit that was received from crypto-currency mining. In addition, on days when incomes in crypto-currency are received, entrepreneurs need to convert the corresponding amount into euros.
Crypto-currency activities in Slovenia
Today, crypto-ecosystem in this jurisdiction is quite developed and widely represented. Firms that fall into this commercial category may offer next-mentioned activities:
- cryptocurrencies sales;
- advising other businesspersons and organizations on issues related to the use and circulation of cryptocurrencies;
- creation and launch of blockchain platforms serving various categories of investors;
- provision of specific advice for entities that operate in the sector;
- cryptoexchanges;
- provision of crypto-currency ATMs – there are already several such machines locally.
When getting cryptolicense in Slovenia, following points needed to be considered:
- firms providing cryptoexchange services, wallets and others needed to be registered with National Bank within six months;
- cryptoexchanges must be registered within three months.
Failure to comply with these provisions may result in a fine.
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